Guaranteed fixed fees for Leasehold Conveyancing in King's Cross

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While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in King's Cross, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to King's Cross leasehold conveyancing

I today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in King's Cross. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in King's Cross ?

Most houses in King's Cross are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in King's Cross so you should seriously consider shopping around for a King's Cross conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will report to you on the legal implications.

Back In 2001, I bought a leasehold flat in King's Cross. Conveyancing and Godiva Mortgages Ltd mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in King's Cross who previously acted has long since retired.Do I pay?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a King's Cross conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold property in King's Cross. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any advice for leasehold conveyancing in King's Cross with the intention of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in King's Cross can be reduced if you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers representatives.
  • Many freeholders or managing agents in King's Cross charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in King's Cross.
  • A minority of King's Cross leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a property where a dispute is ongoing. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unresolved.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is below 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • We have reached the end of our tether in trying to purchase the freehold in King's Cross. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to assess the amount due.

    An example of a Lease Extension decision for a King's Cross property is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The the number of years remaining on the existing lease(s) was 66.8 years.

    When it comes to leasehold conveyancing in King's Cross what are the most common lease defects?

    Leasehold conveyancing in King's Cross is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Barnsley Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

    Other Topics

    Lease Extensions in King's Cross